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Stripe is wrongly suspending accounts

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Re: Stripe is wrongly suspending accounts

#51

Post by Terretta »

n0tth3dro1ds wrote: post #10

At this point, I don’t know how any founder on HN doesn’t make their business… 1) Multi-cloud and… 2) Multi-payment processor These stories are horrifying. These cloud and payment processors simply do not care. They print money and provide no human support. Any venture that I make in the future will be cloud-agnostic containers on several cloud providers with at least two payment processors handling an even share of…

On multi-cloud, it's rather don't be GCP only. On payment processors, used to be don't be just PayPal, then not just Stripe, and in general, yes, you want more than one.

In the late 90s we wrote code to distribute and aggregate fraud checking, card payment processing, settlement accounting, receipt reporting, and refunds across multiple gateways so we could handle mega live event signups. That needs to be an OSS product.

Re: Stripe is wrongly suspending accounts

#52

Post by joering2 »

smca_ wrote: post #30

Can you email me (smca@stripe.com) with more detail? I'll look into this. We don’t typically comment in detail on individual cases, but we do think it’s important for onlookers to know that we take every single case like this seriously. It looks like what happened here was an edge case involving SEPA payments that resulted in a dispute rate that’s far in excess of what’s generally permitted by financial partners. Whe…

an exception to that is Bank of America Merchant services. I have 2 clients with chargeback ratio above 3% for close to 5 years now, and processing volume about $1MM a month. I imagine they are simply too small of a fish for BOA to care about their CB ratio. I seen them getting accounts shut down with basically any other processor, most sensitive being Wells Fargo underwriter but somehow they remain open with BOA so maybe its worth a shot?

BOA implements First Data gateway by default these days, so most likely your previous processor is utilizing same solution as well, so less work to switch.

Re: Stripe is wrongly suspending accounts

#53

Post by marcosdumay »

searchableguy wrote: post #16
superkuh wrote: post #3

If only there were a system to transfer money between two people that didn't require a trusted third party...

Fed now instant payments will go live in US next year. EU has similar cross country solution in work. Majority of Asia already switched or in the phase. In India, most purchases go through UPI already which is p2p without a middleman. It's tough time to be in payments and will only get worse as many custom integration with lending companies break down due to huge losses.

We only need some way to integrate those.

Re: Stripe is wrongly suspending accounts

#54

Post by adrr »

n0tth3dro1ds wrote: post #10

At this point, I don’t know how any founder on HN doesn’t make their business… 1) Multi-cloud and… 2) Multi-payment processor These stories are horrifying. These cloud and payment processors simply do not care. They print money and provide no human support. Any venture that I make in the future will be cloud-agnostic containers on several cloud providers with at least two payment processors handling an even share of…

Or you could just get your own merchant account for payment processing and do all the diligence and requirements upfront. And you get to talk to someone and explain what you're doing to resolve issues upfront.

Re: Stripe is wrongly suspending accounts

#56

Post by kowlo »

This is terrible. I'm going to start looking into alternatives, which is shame, because we initially built around the Stripe API.

We recently had one customer forget to cancel their subscription, and then without contacting us first they filed a dispute for 6 months of charges. That's 6 individual disputes, each with a $15 ($90) dispute fee. We got in touch and mentioned we'd have investigated, found the license unused, and refunded for those months. They contacted their bank to withdraw, but the bank and Stripe are just pushing ahead.

Re: Stripe is wrongly suspending accounts

#57

Post by lewsid »

A4ET8a8uTh0 wrote: post #25
bicijay wrote: post #7

Monthly HN Stripe customer support thread

Maybe this is a good place to ask the question: 1. Why is stripe a seemingly preferred payment processor for HN crowd? 2. Is there no ( edit: real ) competition or is the competition similarly bad ( or somehow worse )? edit: Instead of replying individually, I decided to edit this section. Thank you everyone for the background(s). It does answer a lot of the questions I had. I perused their site and I can absolutely…

Once upon a time, it was like a breath of fresh air. Originally pitched as a dev-first payment API, it was vastly easier to get up and running than other options at the time. In recent years it has suffered under the weight of its own success. The simplicity and ease of use it once promised has been buried beneath a now-bloated and obtuse API. The user interface has struggled to keep up with the feature creep and it too has become a challenge to navigate and interact with. The documentation, once considered an industry-leading example of how to write and present such things, has mutated into a frustrating byzantine mess that's riddled with contradictions and obvious omissions.

As an early adopter and someone that was once very fond of this company and its approach to things, I'm disappointed to see the direction it has gone.

Re: Stripe is wrongly suspending accounts

#58

Post by gommm »

smca_ wrote: post #30

Can you email me (smca@stripe.com) with more detail? I'll look into this. We don’t typically comment in detail on individual cases, but we do think it’s important for onlookers to know that we take every single case like this seriously. It looks like what happened here was an edge case involving SEPA payments that resulted in a dispute rate that’s far in excess of what’s generally permitted by financial partners. Whe…

That makes sense for cards but if most of the payments are SEPA transfers, then it doesn't make that much sense since there's no chargebacks for SEPA transfers.

Maybe the issue is a fraud system designed for cards that's not well thought out for other forms of payments.

Re: Stripe is wrongly suspending accounts

#59

Post by [deleted] »

smca_ wrote: post #30

Can you email me (smca@stripe.com) with more detail? I'll look into this. We don’t typically comment in detail on individual cases, but we do think it’s important for onlookers to know that we take every single case like this seriously. It looks like what happened here was an edge case involving SEPA payments that resulted in a dispute rate that’s far in excess of what’s generally permitted by financial partners. Whe…

[deleted]

Re: Stripe is wrongly suspending accounts

#60

Post by joedavison »

crdrost wrote: post #50
n0tth3dro1ds wrote: post #10

At this point, I don’t know how any founder on HN doesn’t make their business… 1) Multi-cloud and… 2) Multi-payment processor These stories are horrifying. These cloud and payment processors simply do not care. They print money and provide no human support. Any venture that I make in the future will be cloud-agnostic containers on several cloud providers with at least two payment processors handling an even share of…

Have not used it myself yet, but Google has something called “Anthos” that seemed like it would reduce the work from 2x on the cloud front... I can't imagine that existing on the payment front though. Even as a separate startup, a payment processing multiplexer just seems precarious, like “OK my business is now less dependent on Stripe but it's entirely dependent on the availability of this tiny company.”

This is not a new idea -- it's a whole field of infrastructure called "Payments Orchestration". It probably doesn't make sense for small startups, but companies that process more than about $10M+ USD per year can (and do) definitely benefit from multiplexing transactions across multiple providers.
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